Video content co Wochit raises $4.75m

The company is using the proceeds to accelerate marketing efforts, including new initiatives with its customers on producing, syndicating and monetizing breaking news videos.

Wochit Inc., which provides web publishers with a constant supply of fresh news video, has closed a $4.75 million series A financing round from Redpoint Ventures, Cedar Fund and Greycroft Partners. The company is using the proceeds to accelerate marketing efforts, including new initiatives with its customers on producing, syndicating and monetizing breaking news videos.

Headquartered in New York and with offices in Tel Aviv, Wochit’s customers include websites, mobile applications, news organizations, blogs and other publishing organizations. The company combines advanced technology with production expertise to create hundreds of news videos daily that publishers can select and integrate based on those that match topics of interest for their audiences. The company was founded in 2012 by CEO Dror Ginzberg and CTO Ran Oz.

New initiatives by Wochit include organization of content by channels about particular subjects, which customers can embed as feeds that are automatically refreshed with new, topical video. Customers also have expanding white-label publishing options such as videos promoting their brands, and incorporation of their media and basis in their stories.

Ginzberg said, "This financing positions Wochit to continue enhancing the work we do with our growing customer base, including white-label production, expanding ad monetization and more options for embedding Wochit’s ever-fresh videos.”

Redpoint venture partner and senior advisor to YouTube Dean Gilbert said, “Wochit brings advantages in quality, flexibility, cost, scale and timeliness of video to open new revenue opportunities for publishers.”

Published by Globes [online], Israel business news - www.globes-online.com - on May 13, 2013

© Copyright of Globes Publisher Itonut (1983) Ltd. 2013

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